Tajikistan's economic performance has been satisfactory, but challenges still remain. Executive Directors agreed that the challenge is to support recovery while addressing risks to macroeconomic stability. They emphasized for prudent monetary stance to avoid inflation and also to address vulnerabilities in the financial sector. Directors agreed that structural reforms should be given top priority. They welcomed progress in establishing a framework for agricultural financing. Directors commended plans to improve the business climate through a reform of the tax regime and improved transparency and accountability of state-owned enterprises.